In Indonesia, Mobile banking becomes a source of local banks’ revenue

Monday, October 28, 2013

Mobile banking (m-banking) transactions among the country’s major banks have increased significantly in the past several years as people have turned to their phones to carry out transactions.

Bank Central Asia (BCA), for example, has recorded 30 percent to 40 percent annual growth based on user volume and transaction value.

“As of the first quarter of the year, m-BCA had accumulated 4.3 million users who generated transactions worth Rp 90 trillion,” BCA spokesperson Inge Setiawati said. Next year, Inge continued, the plan was projected to maintain this year’s growth level.

Source: The Jakarta Post (link opens in a new window)

financial inclusion